Economy
EU eyes tariffs to 'choke off' Russian grain sales
The EU is looking to "choke off" revenue Russia uses for its war on Ukraine by slapping "prohibitive tariffs" on grain and related imports into the bloc, under a plan being put to a leaders summit on Friday.
'Light on the horizon': German business morale improves
German business morale rose more strongly than expected in March, a key survey showed Friday, raising hope there is "light on the horizon" for Europe's crisis-hit top economy. "The German economy glimpses light on the horizon."
Berlin says German FA lacks 'patriotism' for dropping Adidas
German football's decision to drop Adidas as its kit supplier sparked dismay in Berlin on Friday, with the economy minister blasting the switch to US sportswear giant Nike as a lack of "patriotism". The switch from Adidas was the "wrong decision", Health Minister Karl Lauterbach said Thursday on X, formerly Twitter.
Corporate India in spotlight after political donor list release
Huge donations by firms under criminal investigation or suspected of being shell companies have been funnelled to India's ruling BJP and other parties, new data showed, highlighting the backscratching ties between corporate titans and the government.
Asian markets struggle as US data dents Fed rate cut optimism
Asian markets mostly fell Friday after data pointing to a still-strong US economy raised fresh concerns about inflation and dampened optimism that the Federal Reserve will slash interest rates as much as it expected this year.
Tepid Nike outlook dents shares as it touts Olympic offerings
Shares of Nike tumbled Thursday after the sports giant signaled a tepid near-term revenue outlook even as it promised to wow consumers with new offerings in an Olympic year. Friend also forecast a revenue drop in the "low single digits" in the first half of the next fiscal year, in part reflecting "the subdued macro outlook around the world," he said.
EU agrees to move ahead on using Russian assets for Ukraine
EU leaders on Thursday agreed to "take work forward" on a plan to use the profits from frozen Russian central bank assets to arm Ukraine, as Kyiv pleaded for more ammunition for its outgunned forces. - Kremlin threatens retaliation - EU leaders insisted the plan to target the interest being made by the frozen assets was legally sound.
16 US states challenge Biden admin freeze on new LNG export approvals
Texas and 15 other US states filed a lawsuit on Thursday challenging the Biden administration's freeze on new liquefied natural gas exports. Texas, the leading US producer of crude oil and natural gas, and 15 other Republican-led states filed a lawsuit in a federal court in Louisiana on Thursday opposing the move.
Mexico cuts interest rate for first time in three years
Mexico's central bank on Thursday reduced its benchmark interest rate for the first time in three years following a slowing of inflation in Latin America's second-largest economy. The key interest rate was reduced by 0.25 percentage points to 11.00 percent, the central bank, also known as Banxico, said in a statement.
Economy
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